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Datadog's Rapid Pace of AI Product Development is Acting as Positive Trend, RBC Says

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Datadog's (DDOG) rapid advancement of its artificial intelligence-influenced product strategy is acting as a durable and positive trend for the company, RBC Capital Markets said in a research report emailed Wednesday.

New capabilities around AI and security to help clients detect and resolve issues across the data lifecycle are part of the company's transition to autonomous operations, as AI tailwinds continue to support growth, analysts wrote.

Momentum coming out of Q1 has likely continued in the current quarter, according to the note.

The brokerage said it reiterated its outperform rating on the stock and price target of $250 per share.

Price: $227.71, Change: $+0.37, Percent Change: +0.16%

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